Solution:
Computation of Collection from Customer | |||
Particulars | September | October | November |
Collection for July Sales | $60,000.00 | ||
Collection for August Sales | $168,000.00 | $72,000.00 | |
Collection for September Sales | $157,500.00 | $67,500.00 | |
Collection for October Sales | $189,000.00 | ||
Total cash collections | $228,000.00 | $229,500.00 | $256,500.00 |
Computation of Cash payment of manufacturing costs | |||
Particulars | September | October | November |
Payment for August Manufacturing cost | $40,000.00 | ||
Payment for September Manufacturing cost | $80,000.00 | $20,000.00 | |
Payment for October Manufacturing cost | $104,000.00 | $26,000.00 | |
Payment for November Manufacturing cost | $108,000.00 | ||
Total cash disbursements | $120,000.00 | $124,000.00 | $134,000.00 |
Bridgeport Housewares Inc. | |||
Cash Budget | |||
For the Three Months Ending November 30 | |||
Particulars | September | October | November |
Estimated cash receipts from: | |||
Cash sales | $25,000.00 | $30,000.00 | $31,500.00 |
Collection of accounts receivable | $228,000.00 | $229,500.00 | $256,500.00 |
Total cash receipts | $253,000.00 | $259,500.00 | $288,000.00 |
Less estimated cash payments for: | |||
Manufacturing costs | $120,000.00 | $124,000.00 | $134,000.00 |
Selling and administrative expenses | $42,000.00 | $48,000.00 | $51,000.00 |
Capital expenditures | $200,000.00 | ||
Other purposes: | |||
Income tax | $55,000.00 | ||
Dividends | $25,000.00 | ||
Total cash payments | $162,000.00 | $227,000.00 | $410,000.00 |
Cash increase or (decrease) | $91,000.00 | $32,500.00 | -$122,000.00 |
Plus cash balance at beginning of month | $40,000.00 | $131,000.00 | $163,500.00 |
Cash balance at end of month | $131,000.00 | $163,500.00 | $41,500.00 |
Less minimum cash balance | $50,000.00 | $50,000.00 | $50,000.00 |
Excess or (deficiency) | $81,000.00 | $113,500.00 | -$8,500.00 |
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget...
updated photo! Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $250,000 $300,000 $315,000 Manufacturing costs 150,000 180,000 185,000 Selling and administrative 42,000 48,000 51,000 еxpenses Capital expenditures 200,000 The company expects to sell about 10 % of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following...
PR 22-5A Cash Budget Obj. 5 The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: October Sales Manufacturing costs Selling and administrative expenses Capital expenditures September $250,000 150,000 42,000 $300,000 180,000 48,000 November $315,000 185,000 51,000 200,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $136,000 $166,000 $227,000 Manufacturing costs 57,000 71,000 82,000 Selling and administrative expenses 48,000 50,000 86,000 Capital expenditures _ _ 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $130,000 $161,000 $211,000 Manufacturing costs 55,000 69,000 76,000 Selling and administrative expenses 46,000 48,000 80,000 Capital expenditures _ _ 51,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $114,000 $140,000 $189,000 Manufacturing costs 48,000 60,000 68,000 Selling and administrative expenses 40,000 42,000 72,000 Capital expenditures _ _ 45,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $121,000 $155,000 $201,000 Manufacturing costs 51,000 67,000 72,000 Selling and administrative 42,000 47,000 76,000 expenses Capital expenditures 48,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $137,000 58,000 $173,000 74,000 $226,000 81,000 Manufacturing costs Selling and administrative expenses 48,000 52,000 86,000 Capital expenditures 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $137,000 $173,000 $223,000 Manufacturing costs 58,000 74,000 80,000 Selling and administrative expenses 48,000 52,000 85,000 Capital expenditures _ _ 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Cash Budget The controller of Bridgeport Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $142,000 $178,000 $231,000 Manufacturing costs 60,000 77,000 83,000 Selling and administrative 50,000 $3,000 88,000 expenses Capital expenditures 55,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...
The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $142,000 $169,000 $224,000 Manufacturing costs 60,000 73,000 81,000 Selling and administrative expenses 50,000 51,000 85,000 Capital expenditures _ _ 54,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and...